Russia in panic as US sanctions trigger ruble collapse – DW – 11/28/2024
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Russia's currency has fallen sharply as US sanctions bite, putting further pressure on the country's already strained financial system.

Summary

Russia’s ruble has plunged to its lowest level since March 2022 following new U.S. sanctions on Gazprombank, a key platform for energy payments.

The ruble’s slide, driven by sanctions, falling oil prices, and soaring defense spending, has intensified inflation and strained the war economy.

While the Kremlin benefits from a weaker ruble by converting foreign revenues into more domestic currency, experts warn of overheating risks and financial instability.

The Russian central bank is scrambling for solutions, but long-term economic pressures and declining oil revenues pose significant challenges.

  • @[email protected]English
    10•2 days ago

    That’s the same as saying Americans need to do something about Trump. They elected him and need to deal with the mess. Easier said than done.

    • FenrirIIIEnglish
      3•2 days ago

      Trump isn’t president yet. He potential actions have not had any effects to fight back against. When he does fuck up the country, I genuinely hope people will wake up and do something. If not, I’ll be criticizing those cowards just the same.

      • @[email protected]English
        16•2 days ago

        We’ve already had four years of Trump. We know exactly who he is what he does and Americans walked right into it with eyes wide open. No excuses.

      • @XanthobillyEnglish
        4•2 days ago

        Trump is a symptom of a much bigger problem having to do with income inequality and oligarchs manipulating the media. It’s too late in the US. Once he assumes power, violence will sky rocket as a means of suppressing free speech, and corruption will rule. There won’t be some awakening, because there should have already been one.